Tesla recently cut the ribbon on a massive new battery plant in Southern California. The plant, which took $5B to construct, represents the continued fulfillment of Elon Musk's mission to vertically integrate. As Tesla produces better batteries for a cheaper cost because of the scale, Tesla hopes to make their cars more affordable and increase their top line revenue.
This battery factory also has important ramifications for the newly partnered SolarCity. They hope to provide a battery pack for homes looking to harness the sun's energy and use it during the nighttime.
What do you think the future of Tesla is? Will it continue to boom? Or will it collapse under bold time deadlines and overhead costs?
Three massive battery storage plants--built by Tesla, AES Corp., and Altagas Ltd.--are all officially going live in southern California at about the same time. Any one of these projects would have been the largest battery storage facility ever built. Combined, they amount to 15 percent of the battery storage installed planet-wide last year.
Ribbons will be cut and executives will take their bows. But this is a revolution that's just getting started, Tesla Chief Technology Officer J.B. Straubel said in an interview on Friday. "It's sort of hard to comprehend sometimes the speed all this is going at," he said. "Our storage is growing as fast as we can humanly scale it."